ROANOKE TIMES
Copyright (c) 1995, Roanoke Times
DATE: Thursday, December 7, 1995 TAG: 9512070057
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
SOURCE: JEFF STURGEON STAFF WRITER
As recently as late September and early November, the economies of Virginia and other Mid-Atlantic states were growing steadily, according to Federal Reserve analysts.
Ports and firms that supply temporary workers fueled the expansion under way at that time, according to the latest edition of the Beige Book, the Federal Reserve's periodic summary of conditions in 12 regional economies. It was released Wednesday.
Retailers in Virginia, West Virginia, Maryland and the Carolinas saw little evidence that department stores were going to experience the paltry sales gains they saw by November's end.
One retailer said business clothes weren't selling as well as previously and blamed corporate layoffs, the Federal Reserve Bank of Richmond said.
Manufacturers said shipments and new orders were growing, but slightly more slowly. Real estate agents sang a similar tune.
But temporary firms were doing more business than in September or a year earlier and predicted robust activity during the coming six months. The region's ports also reported expecting more business.
Hotels and tourist attractions were booking more winter visitors than last year. Lower interest rates fueled demand for consumer and commercial loans.
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